Tsakos Energy Navigation Limited Declares Dividend on Its 8.00% Series B and 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares

ATHENS, GREECE--(Marketwired - Apr 15, 2014) - Tsakos Energy Navigation Limited ("TEN") (NYSE: TNP), a leading crude, product, and LNG tanker operator, today announced that its Board of Directors declared regular quarterly cash dividends of $0.50 per share for its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (the "Series B Preferred Shares") (NYSE: TNPPRB) and $0.55469 per share for its 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares (the "Series C Preferred Shares") (NYSE: TNPPRC).

Each dividend is for the period from the most recent dividend payment date on January 30, 2013 through April 29, 2014.

The dividend on the Series B Preferred Shares will be paid on April 30, 2014 to all holders of record of Series B Preferred Shares as of April 29, 2014. The dividend on the Series C Preferred Shares will be paid on April 30, 2014 to all holders of record of Series C Preferred Shares as of April 25, 2014. Dividends on the Series B and C Preferred Shares will be payable quarterly in arrears on the 30^th day of January, April, July and October of each year, when, as and if declared by TEN's board of directors. This is the fourth dividend on the Series B and the second dividend on the Series C.

TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares outstanding as of the date of this press release.

ABOUT TSAKOS ENERGY NAVIGATION
To date, TEN's fleet, including the LNG carrier Maria Energy and nine Aframax crude oil tankers under construction, consists of 58 double-hull vessels, a mix of product tankers, crude tankers and LNG carriers, totaling 5.9 million dwt. Of these, 28 are product carriers ranging from DP2 shuttle suezmaxes to handysize, 28 are crude tankers ranging from VLCCs to Aframaxes, and two are LNG carriers.

The Company's newbuilding program consists of:

Vessel		Dwt		Built
LNG Maria Energy		174,000 cbm		1Q2016
Aframax H/N 5010		112,700 dwt		2Q2016
Aframax H/N 5011		112,700 dwt		2Q2016
Aframax H/N 5012		112,700 dwt		3Q2016
Aframax H/N 5013		112,700 dwt		4Q2016
Aframax H/N 5014		112,700 dwt		1Q2017
Aframax H/N 5015		112,700 dwt		1Q2017
Aframax H/N 5016		112,700 dwt		2Q2017
Aframax H/N 5017		112,700 dwt		2Q2017
Aframax H/N 5018		112,700 dwt		3Q2017

ABOUT FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.